At Financial Brokerage Services, we don't just design VA employee benefits programs that provide the best possible care for your employees while carefully managing the long-term premium costs of your business, but we also keep you updated with the latest industry news and laws on insurance and employee benefit programs. In relation to this, we would like to inform you that the Affordable Care Act (ACA) has required all employers to hand out copies of the Summary of Benefits and Coverage (SBC) to all of their insured employees. The SBC accurately describes the employees' benefits and coverage under the applicable plan offered by their insurance company. According to the provisions in ACA, it must be provided to all employees who are either enrolled or will be enrolled or terminated on the first day of open enrolment which began on September 23, 2013. Employers who wilfully fail to comply with its delivery will be subjected to a $1,000 fine per plan participant or beneficiary.
http://www.financialbrokerageservices.com/trusted-firm-that-designs-va-employee-benefits-programs-explains-sbc/
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